Property Overview: 921 Isbister Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its land. The nearly 7,700 sqft lot is notably larger than most, ranking in the top 11-13% when compared to the street, neighborhood, and city. This is the property's primary asset, offering significant outdoor space and potential in the Buchanan area. The house itself is a modest, renovated one-storey bungalow from 1951 with 849 sqft of living space and a detached garage. Its assessed value is consistently around the average for its comparables.
The appeal lies in a "blank canvas" opportunity. The renovated basement adds functional living space, but the real draw is the expansive lot. It suits a specific buyer: someone looking for an entry point into the market who values private outdoor space over a large interior, or an investor/developer attracted by the subdividable potential of the lot (subject to zoning verification). It's a pragmatic choice for those comfortable with a smaller, older home footprint who see greater long-term value in the land itself.
Section 2: Frequently Asked Questions
1. Is the price reflective of a "teardown"?
While the home is livable with a renovated basement, the sale price and metrics suggest the market is valuing the land highly. The older home, smaller living area, and large lot combination indicate that future redevelopment or significant expansion is a key consideration for buyers.
2. How does the renovated basement impact the living space?
The listing confirms a renovated basement, which effectively adds usable square footage not fully reflected in the main living area statistic. This makes the home more functional than the 849 sqft main floor suggests.
3. The assessed value seems low. Why?
Assessed value for taxation purposes is not market value. This assessment is in line with similar properties in its group. The actual sale price will be determined by current market demand, particularly for its large lot.
4. What are the implications of the older year of build (1951)?
While well-maintained, an older home like this requires diligent inspection for foundational integrity, wiring, plumbing, and insulation. Its age is a factor in its smaller layout and lower assessed value relative to the land.
5. Who are the most likely buyers for this property?
First-time buyers or downsizers seeking a low-maintenance home with ample yard space, and investors or builders attracted by the lot's size and potential for adding a second dwelling or future new construction.